HOUSTON – Jeronimo Hirschfeld, a developer and CEO of Miami-based One Real Estate Investment, has announced the acquisition of an Alief area multifamily project, continuing his quest to build a Texas apartment portfolio.

“We are very excited as we continue to grow and expand into different markets. At this time we are working on three new acquisitions totaling 900 apartments and are looking to end the third quarter with another 1,200 units. This will put us close to 8,000 apartments,” said Hirschfeld.

Earlier this month, he purchased The Vibe at Landry Way, 7412 Ederville Road in Fort Worth, with 224 units on 12 acres.

Last year Hirschfeld purchased two other properties in the Houston area: Avalon at Royal Oaks, located at 2310 Crescent Park Drive, for $30 million last July, and another 446-multifamily property for $20.3 million last May.

One Real Estate Investment has consolidated a portfolio valued in excess of $500 million with more than 5,500 class B and C multifamily apartments.

Jennifer Campbell, an associate at Marcus & Millichap, brokered the recent sale. Anthony L. Morrison, a partner at Kapp Morrison LLP, also worked on the deal.

July 25, 2017 Realty News Report Copyright 2017

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Texas-based RealtyNewsReport.com covers regional and national news of significant trends and transactions in commercial and residential real estate. The publication was founded by Ralph Bivins, an award-winning journalist with extensive experience in print, broadcast and online media. Bivins recently received a number of awards in the 66th Annual National Association of Real Estate Editors Journalism Competition.